Bangladesh needs a strong reform agenda to sustain its growth trajectory and further accelerate the growth rate in the long term, a World Bank report said, praising its remarkable economic progress in the past five decades. “The Country Economic Memorandum – Change of Fabric identifies,” formally launched at a city hotel
Tag: World bank
Inflation phobia hastens recessions, debt crises
Inflation phobia among central banks (CBs) is dragging economies into recession and debt crises. Their dogmatic beliefs prevent them from doing right. Instead, they take their cues from Washington: the US Fed, Treasury and Bretton Woods institutions (BWIs). Costly recessions Both BWIs – the International Monetary Fund (IMF) and World Bank –
Lack of reforms may stunt GDP growth: WB study
World Bank, in a study, said Bangladesh's gross domestic product (GDP) growth could fall below four percent by 2035 without massive reforms, it said. The study found three obstacles to Bangladesh's economic reform: declining trade competitiveness, a weak and vulnerable financial sector, and unbalanced and inadequate urbanization. If these three obstacles
WB to remain beside Bangladesh as partner: Martin Raiser
World Bank (WB) new Vice President for South Asia Martin Raiser has said the WB will remain beside Bangladesh as a partner in adopting economic policies to overcome the challenges of development. Raiser said this at a meeting with Finance Minister AHM Mustafa Kamal on Tuesday night. This is his first
Nasrul urges WB to expedite funding for power, energy projects
State Minister for Power, Energy and Mineral Resources Nasrul Hamid has urged World Bank to expedite its funding to projects in Bangladesh's power and energy sector. He made the request while holding a bilateral meeting today with visiting World Bank Vice President for South Asia Region, Martin Raiser, at the ministry,
WB lauds Bangladesh development under PM Hasina’s leadership
The World Bank's outgoing country director Mercy Miyang Tembon on Wednesday highly appreciated Bangladesh's overall socioeconomic development, including women empowerment under the leadership of Prime Minister Sheikh Hasina. Tembon said this during her farewell call on the prime minister at her official residence Ganabhaban. Prime Minister's Press Secretary Ihsanul Karim briefed
Country seeks $2.0b in budget aid from WB, ADB
World Bank refuses new funding for bankrupt Sri Lanka
The World Bank said Friday it would not offer new funding to Sri Lanka unless the bankrupt island nation carried out "deep structural reforms" to stabilise its crashing economy. Sri Lanka has suffered an unprecedented downturn with its 22 million people enduring months of food and fuel shortages, rolling blackouts and
High commodity prices, foreign currency shortage due to war in some countries
Bangladesh’s economy to grow by 6.4pc in FY 21-22: WB
The Bangladesh economy is expected to grow by 6.4 percent in the current 2021-22 fiscal year while 6.9 percent in the 2022-23 fiscal, the World Bank projected. The World Bank made the projection in its 'Global Economic Prospects' report. As per the World Bank estimate, the GDP growth was 5 percent in